Okta Trend Report Shows Over 6 Out Of 10 High-Profile Digital Companies Are Investing In Blockchain

According to a recent report released by the identity management firm Okta, 61% of high-profile digital companies around the world invest in blockchain technology. The information was shared by Okta with Cointelegraph on April 2nd.

Digital Companies Invest In DLT

Okta has recently revealed that large digital companies around the world are investing large sums of money in blockchain technology. Okta has surveyed 1,050 IT security and engineering decision makers from global companies around the world with more than $1 billion in revenue. These decision makers are those in charge of making technology purchasing decisions in these firms.

The responses have been collected between January and February this year and the intention was to understand how firms are applying new technologies such as blockchain. The report shows that most decision makers preferred to invest in the Internet of Things (IoT) and also Artificial Intelligence (AI).

72% of the respondents mentioned that they are investing in IoT, followed by AI with 68%, blockchain technology with 61% and augmented reality with 58%.

Furthermore, the report shows that out of total 1,050 decision makers, 90% of them claim that their firms are working on digital transformation and also in one of the technologies mentioned above.

There are different firms investing in distributed ledger technology (DLT) with the intention of improving and enhancing their products and services. Some of these firms include JP Morgan Chase, Santander Group or JD.com. The trend seems to be global and there are countries that are already creating the necessary legal frameworks for companies and firms to find a clear place were to settle their operations.

A short time ago, the US-based market research firm International Data Corporation informed that global blockchain spending will account for $2.9 billion in 2019. That means that investment in blockchain technology will increase this year by almost 90% compared to 2018.

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